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BMO Capital Markets maintains its Outperform rating on Mag Silver
MAG as the company released an updated preliminary economic assessment examining development of the Juanicipio project in Mexico.
BMO Capital Markets comments, "Increased capital and operating costs relative to our previous estimates has reduced our 10% NAV estimate materially. Based on changes made to our assumptions, BMO Research's 10% NAV estimate (at spot metals prices) decreased by 29%. However, the project, by virtue of its high grades and high estimated recoveries, remains robust."
MAG closed at $8.89 on Thursday.
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Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsBMO Capital MarketsElectrical Components & EquipmentIndustrials
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